Radio One spins out of Augusta


Another chapter is in the book of the ongoing liquidation project in progress at Radio One. It’s recently spun out of Dayton OH, Louisville KY and Minneapolis-St. Paul MN. Now we can add Augusta GA to the list. The group’s one-AM, four-FM cluster is headed for Perry Broadcasting Company Inc. for 3.1M. The cluster follows the group’s Urban formula with the exception of AltRock WAEG-FM. The other stations include Urban AC WAKB-FM, Mainstream Urban WFXA-FM, and Gospel duo WTHB AM & FM. The company pegs the pricetag at 17x operating income for the year ending 6/30/07.